Noida Authority To Allow Mortgage Permission To Builders For Government's Stress Fund Access
NDTV
Mortgage permission will be granted to builders in Noida in a bid to help them access the Centre's stress funds to complete their projects
Mortgage permission will be granted to real estate developers in Noida in a bid to help them access the Centre's stress funds to complete their projects, the local authority here said.
The decision to grant mortgage permission and reschedule dues was taken during the 204th Board Meeting of the Noida Authority on Monday.
In November 2019, the centre had announced a Rs 25,000-crore fund -- Special Window for Affordable & Mid-Income Housing (SWAMIH) - to help complete over 1,500 stalled housing projects comprising 4.58 lakh housing units across the country.
SBI CAP Ventures, a wholly-owned subsidiary of the State Bank of India, is the investment manager of the fund.
